Interest rates on loans going down in Belarus in June

Interest rates on loans in Belarus continued to decline in June 2023 amid a further slowdown in annual inflation, BelTA learned from the website of the National Bank.

The average interest rate on new bank loans granted to legal entities in national currency (excluding preferential loans) in June 2023 was 8.2% per annum, down by 0.3 percentage points month-on-month. Thus, loans have become even more affordable for financing current and investment activities, which contributes to economic growth.

For individuals, the average interest rate on new loans in national currency (excluding preferential loans) in June decreased by 0.1 percentage points month-on-month to 10.5% per annum.

The average interest rate on new fixed-term deposits of individuals in Belarusian rubles virtually did not change in June 2023 from the previous month and amounted to 8.3% per annum.

Banks offer the most attractive profitability on long-term deposits. The average interest rate on new bank deposits of individuals for a period of more than a year in June of this year amounted to 11.45% per annum.